Keith Hennessey, a research fellow at the Hoover Institution and a lecturer at the Stanford Graduate School of Business, talks with Erik Schatzker on Bloomberg Television's InsideTrack about Standard & Poor's decision to change the US credit rating outlook to negative, the impact of the change on policy makers, tax legislation, entitlement programs, and the challenges of resolving the budget deficit.

A speechwriter for President George H. W. Bush, Andrew Ferguson is now a senior editor at the Weekly Standard. The author of Fools’ Names and Land of Lincoln, Ferguson’s most recent book is entitled Crazy U: One Dad’s Crash Course in Getting His Kid Into College.

George Shultz, the Thomas W. and Susan B. Ford Distinguished Fellow at the Hoover Institution, former secretary of state, and former secretary of labor and secretary of the Treasury during the Nixon administration, recalls his work in the administration – including his philosophy and strategies on labor and economic issues. He also details his behind-the-scenes efforts on behalf of school desegregation.

John Taylor, the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University, discusses, with Matt Miller and Carol Massar on Bloomberg Television's Street Smart, plans by House Republicans to release a 2012 federal budget proposal that may call for more than $4 trillion in spending cuts during the next ten years. Taylor notes that reducing spending and economic uncertainty and focusing on the private sector will help ease unemployment.